(Alliance News) - Major European exchanges traded in a bullish direction at Tuesday's open, with trading rooms welcoming positive economic data from China as they awaited the results--further--from the big U.S. banks, a respectable thermometer of the health of the star-studded sector.

China - the world's second largest economy - grew 4.5 percent in the first quarter, accelerating from the previous reading of 2.9 percent and easily beating forecasts for 4 percent growth.

Other data included that the UK unemployment rate unexpectedly rose in the three months to February, data showed Tuesday. According to the Office for National Statistics, the UK unemployment rate was 3.8 percent in the three months to February, higher than the market consensus cited by FXStreet, which expected an unchanged figure of 3.7 percent in the three months to January.

Thus, the FTSE Mib advances 0.1% to 27,738.59, with put/call volume moving with a ratio in the 0.8 area.

Among the smaller listings, the Mid-Cap advances 0.1% to 43,955.25, the Small-Cap up 0.3% to 30,055.12, and Italy Growth picks up 0.3% to 9,360.30.

In Europe, London's FTSE 100 rises 0.3 percent as do Frankfurt's DAX 40 and Paris' CAC.

On the main list in Piazza Affari, Banca Monte dei Paschi starts well, advancing 1.9 percent with price at EUR2.16. The Sienese bank on the weekly frame brings its assets into double digits, slightly exceeding 10 percent.

Reflecting the good momentum in banking, UniCredit advances with 1.6 percent and brings the price bar to EUR19.36. The company announced Tuesday that it had purchased 10.9 million of its own ordinary shares between April 11 and 14. The shares were taken over at an average unit price of EUR18.7129, for a total value of EUR203.8 million.

BPER Bank, on the other hand, advances 1.4 percent, pointing its snout toward the third session to end on the bullish side.

On the negative note - the list's minority - Leonardo is stepping back 1.6 percent after three bullish sessions.

On the Mid-Cap, illimity Bank is advancing well, taking assets to EUR6.84 thanks to a 2.4 percent rise. Citadel Advisors on Monday revised its short position to 0.51% from 0.49% previously.

Maire Tecnimont puts up 1.7 percent after the bell rang, bringing the price to EUR4.04. Stifel initiated coverage on the stock expressing a fair value of EUR5.22.

Webuild -- in the money with 1.1.% -- reported Tuesday that its joint venture U.S. subsidiary Lane has been selected preferred bidder to exclusively carry out the study that will define the implementation of the project, to date estimated at USD1 billion in total value, for the modernization of "Tampa's Westshore Interchange."

Among the bearish few, Saras instead gives up 1.0 percent to EUR1.2665, following up the previous two sessions on the bearish side.

On the small-cap segment, Eukedos advances 7.2%, rebounding after falling more than 14% in the past two sessions.

Autostrade Meridionali advances 7.0%. There is high trading volume on the stock, over 164,000, compared to the three-month daily average of about 59,000.

In the bearish group - a minority on this list as well - Enervit steps back 1.9 percent with price at EUR3.14 after a 1.3 percent gain on the eve of the day.

Among SMEs, the high quarters see Datrix, which advances with 3.1% after three sessions in which selling prevailed.

Also advancing well is Pharmacosmo, which picks up 3.1%, although on the weekly it still marks a decline of nearly 12% that becomes a minus 32% when considered for the full 2023.

Relatech - up 1.0 percent - announced Tuesday that it has strengthened its partnership with Oracle Netsuite, a market leader in the world of ERP systems, to implement Oracle Netsuite ERP business applications in the cloud that can support companies and organizations on the path to digitizing processes.

In New York overnight Europe, the Dow Jones rallied 0.3 percent, as did the S&P and Nasdaq.

Among Asian exchanges, the Hang Seng is giving up 0.9 percent, the Shanghai Composite has picked up 0.2 percent, and the Nikkei has picked up 0.5 percent.

Among currencies, the euro changed hands at USD1.0964 against USD1.0915 at Monday's close. In contrast, the pound is worth USD1.2423 from USD1.2359 last night.

Among commodities, Brent crude is worth USD85.09 per barrel versus USD84.98 per barrel on Monday evening. Gold, meanwhile, trades at USD1,999.18 an ounce from USD1,990.12 an ounce at yesterday's close.

On Tuesday's economic calendar, the Italian trade balance is due out at 1000 CEST and the ZEW index of German economic conditions at 1100 CEST.

At 1100 CEST European trade balance data and the ZEW sentiment will be released.

In the afternoon, from the U.S. coming up are building permits while from Canada, the index of key consumer prices.

At 1800 CEST, however, UK labor productivity data are expected.

In Piazza Affari, results from Brunello Cucinelli, Eems, Generalfinance and MFE-MediaForEurope are expected.

By Maurizio Carta, Alliance News reporter

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